IdeaForge share price: Drone stock jumps 7%, gives 55% returns in one month. Do you own?
IdeaForge Technology share price rallied over 7% on Wednesday amid a sharp uptick in trading volumes. The drone stock, IdeaForge shares spiked as much as 7.80% to ₹ 605.50 apiece on the BSE.
On June 4, approximately 23 lakh equity shares of IdeaForge Technology changed hands on the exchanges, significantly higher than its one-week average volume of 11 lakh shares.
The recent rally in IdeaForge comes on the back of heightened investor interest in defence and drone stocks, following the escalation of the India-Pakistan conflict. The Indian Army's 'Operation Sindoor', launched on May 7, showcased the country's indigenously developed drone and defence capabilities, including the destruction of key Pakistani air bases and the interception of incoming drones and missiles.
IdeaForge Technology share price has jumped over 70% since May 6 — just a day before the operation.
IdeaForge share price has gained 56% over the past month and 74% in the last three months. However, the drone stock is still down 4% on a year-to-date (YTD) basis and has declined 7% over the past year.
Despite the recent recovery, IdeaForge shares continue to trade significantly below their listing and issue prices. The company debuted on the bourses on July 7, 2023, with a stellar listing at ₹ 1,305.10 per share — over 94% above its issue price of ₹ 672. The stock hit a 52-week high of ₹ 864.10 on July 12, 2024, and a 52-week low of ₹ 301 on April 7, 2025.
IdeaForge share price has been forming higher highs with strong volumes. The recent price upmove is supported by high volumes. The short-term bias for IdeaForge shares remains positive and we can see a rally towards ₹ 650 level, said Ruchit Jain, Vice President, Equity Technical Research, Motilal Oswal Financial Services Ltd.
Jain suggests a 'buy on dips' strategy and has an IdeaForge share price target of ₹ 650.
At 12:05 PM, IdeaForge Technology share price was trading 5.79% higher at ₹ 594.15 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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